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TITLE 47: HOUSING AND COMMUNITY DEVELOPMENT
CHAPTER II: ILLINOIS HOUSING DEVELOPMENT AUTHORITY PART 220 SINGLE FAMILY MORTGAGE PURCHASE PROGRAM SECTION 220.401 RESTRICTIONS ON RETURN REALIZED BY LENDERS
Section 220.401 Restrictions on Return Realized by Lenders
The Authority shall establish the maximum rate or rates of return which may be realized by any Lender and by any agent of any Lender from Mortgage Loans, including any commitment fees, premiums, bonuses, points, or other fees charged by the Lender or the Lender's agent in connection with the making of Mortgage Loans. Such maximum rates of return shall be set at such amounts as the Authority finds reasonably necessary to induce participation in the Program by Lenders in order to accomplish the purposes of the Act. |